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Depending on your business of choice, commercial mortgage rates can vary greatly. You’ll want to consider factors such as interest rates, risk ventures, capital, and viability before looking to secure the needed loan. You’ll also want to shop around for the best available rates. Mortgage rates fluctuate frequently, and competition for business loans is stiff. The hours you spend planning and researching now could save you thousands or even tens of thousands in reduced mortgage payments over the next several years.

Keep in mind that if you have a high risk venture, you’ll have to expect to pay more interest initially than a more established business. The stronger a bank perceives a business to be, the lower the interest rates.

Lower interest rates are available in tighter economic times and higher in growing economies; they naturally fluctuate with supply and demand. There are several useful resources online for comparing commercial mortgage rates online. Be sure to use as many of these sites as possible; it can only take a minute to catch a bad quote, and a decade or more to pay it off.

The last thing you’ll need to decide is whether to go with a fixed or variable-rate mortgage. Which is more appropriate will depend on many factors, including those just discussed. The best approach is to consult with experts, do your own research, and rely on your best judgment. It can be tempting to go for a bargain rate, but remember that if it seems too good to be true it likely is. More and more financial experts are leaning towards fixed rates in these uncertain times, although with sound planning variable rates can save you thousands. Be smart and do yourself due diligence as you would your best client. After all, you’re your own best earner.